Most of the work is complete on the Bathroom Hole House. So far I have spent $56,644.35. I have some outstanding bills, some work on the heater is needed, and fixture replacements are probably required. I also expect to find some small problems as I inspect the house closer. I expect to spend another $3000 and I will be in the house under $60,000. When the house sales I will give exact numbers, including carry costs.
I have listed it with a realtor for $149,900. The appraisal (required by the bank) was $162,000 but both the realtor and I feel that was high. I am offering a $2,000 credit for appliances.
I have posted before and after picture below.
I would appreciate your comments. Please like, 1+, and re-Tweet this post.
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I love before and after shots.. I’m surprised you left as much wood paneling in as you did. I’m curious to see how the appliance credit goes. I think if I were a buyer, I’d want to be able to move into a house with appliances in it that is ready to live in rather than wait for new ones to be delivered.
I was not sure what kind of appliances to get. I like stainless, the real estate agent said black was best and my girlfriend said white matches better. I also come from a landlord background and wanted to go cheap. The agent told me to only get a dishwasher and stove and have no refrigerator. Keep in mind there are two kitchens.
The allowance is just a start. During negotiations I will probably agree to pay for the appliances in full in place of some of the discount; then I will put them in before closing. If the deal falls through, I will have appliances for the next buyer. (Just need to make sure they don’t pick something weird).
If this becomes an issue I can always add appliances.
Yeah, In my part of the country, houses typically don’t come with refrigerators. But I lived in CT for a while, and I think out there, they did. I only put in stoves and dishwashers. If the microwave was built-in over the stove, I’d include that too. I usually used white ones and the cheapest model available from Lowe’s. (Remember, your appliance preference shouldn’t matter – this is an investment you are selling.) I think the stoves would run $400 and the dishwasher about $200. One drawback though, is you need to deal with the installers.. http://shaunsre.blogspot.com/2004/07/those-damn-dishwasher-installers.html
Wow that looks like a pretty big house. You got it at a great price!!
We usually put in Stainless Steel appliances in all our finished houses